htmlOn July 14, TSMC held a performance briefing.
In the second quarter ended June 30, 2022, TSMC's consolidated revenue was NT$534.14 billion and its net profit was NT$237.03 billion. In US dollars, revenue in the second quarter was US$18.16 billion, a year-on-year increase of 36.6%, an increase of 3.4% over the previous quarter. Gross profit margin for the quarter was 59.1%, operating margin for operating margin was 49.1%, and net margin was 44.4%.
TSMC's net profit from April to June rose to a record $7.94 billion, surpassing the average estimated by 19 Refinitiv analysts to $7.33 billion.
Since Apple, AMD and Nvidia's 7nm and 5nm orders all rely on TSMC, TSMC's advanced process revenue in the second quarter remained stable. Among them, 5nm shipments accounted for 21% of the total revenue; 7nm accounts for 30%. In advanced processes, shipments of advanced processes defined as 7 nm and more account for 51% of total revenue.
TSMC Vice President and Chief Financial Officer said “Our business in the second quarter was supported by high-performance computing, IoT and automotive-related needs, and into the third quarter of 2022, we expect the industry to face TSMC’s leading 5nm and 7nm The demand for technology will continue to support TSMC's business."
TSMC's comprehensive income statement for the second quarter of 2022, source: TSMC
7nm is still the largest source of revenue, and the proportion of mobile phone revenue has decreased
Revenue situation of different process nodes, source: TSMC
1 In the second quarter of 2022, 7nm is still the process with the highest revenue of TSMC. Compared with the first quarter of 2022, the revenue share of the 7nm process remained stable, both of which were 30%. While 7nm revenue remains stable, the revenue share of 5nm process has increased by 1% compared with the first quarter of 2022 to 21%.
Revenue situation on different platforms, source: TSMC
In terms of applications, the steady sales of high-performance computing (HPC) chips for 5G networks and artificial intelligence have made HPC the largest source of revenue, an increase of 13% month-on-month. In the second quarter, IoT and automobiles became the application areas with the fastest growth in revenue. It is worth noting that smartphone revenue increased by only 3% in the second quarter, and its share of different application platforms also declined. Mobile phones accounted for 38% of revenue in the second quarter, while revenue accounted for 40% in the first quarter.
By region, North America is the largest contributor to TSMC's revenue, accounting for 64%. In the second quarter, China surpassed the Asia-Pacific region (except China) to become TSMC's second largest source of revenue, with revenue share rising from 11% in the previous quarter to 13%.
In June 2022, TSMC unveiled the 2022 North American Technology Symposium, introducing the company's FINFLEX™ platform and N2 process. At the seminar, in addition to introducing the N2 process, TSMC also stated that the N3 process is expected to be HVM in the second half of 2022.
In addition, TSMC Japan 3DIC R&D Center has completed the construction of the clean room of AIST Tsukuba Center. It will cooperate with Japanese partners, domestic research institutions and universities that have advantages in semiconductor materials and equipment to assist in the research and development of state-of-the-art 3DIC packaging materials. What does TSMC think about the downward trend of the semiconductor market in
?
TSMC supplies almost all major chip manufacturers around the world, from Apple and Qualcomm to Nvidia and Broadcom, and its revenue can reflect the demand of the semiconductor industry to a certain extent.
"Inventory levels in the global semiconductor industry are rising against the backdrop of weak terminal demand expectations," said Kristine Lau, an analyst at investment research firm Third Bridge. "Reduced orders and reduced demand forecasts are becoming more and more common." It is not difficult to see from the slowdown in revenue growth of smartphone platforms that TSMC cannot be independent of changes in the global market.
, including semiconductor companies such as Micron Technology and Samsung Electronics, have shown negative expectations of market demand recently.The oversupply of the chip market in the industry is rampant. As the most valuable listed company in Asia in 2021, TSMC's stock price has fallen by about 23% so far this year, bringing the company's market value to US$408.3 billion.
TSMC's two revenue data in the second quarter are undoubtedly the best response to the duet. Analysts pointed out that TSMC has the ability to continue to maintain a solid position as revenues are concentrated in cutting-edge nodes and a diverse customer base. Of course, maintaining this position requires TSMC to continue to increase investment in process nodes and other aspects.
TSMC expects revenue in the third quarter to be between US$19.8 billion and US$20.6 billion, with gross profit margins ranging from 57.5% to 59.5%.
Semiconductor analyst Mark Li said that even if the emergence of the global financial crisis hit TSMC. But TSMC is in a technical leadership position, and once the economy recovers, it will rebound, and TSMC will still survive.
TSMC's revenue increased by 39.6% year-on-year in the first half of 2022. TSMC predicted its full-year revenue will grow by more than 30%. Wei Zhejia said that it is expected that the semiconductor inventory correction will take several quarters in 2023, but TSMC is confident that an annual compound growth rate of 15%-20% can be achieved. Wei Zhejia said that "the inventory adjustment of high-end mobile phones" and "the inventory in this field has not been seen to rise." There will be a typical decline in chip demand in 2023, but not the big decline in 2008.
* Statement: This article was created by the original author. The content of the article is his personal opinion. Our reprint is for sharing and discussion only and does not mean that we agree or agree. If you have any objections, please contact the backend.
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-